Jeffrey Smith Starboard Value
Jeffrey Smith is the CEO of Starboard Value, one of the most active and successful activist investment firms of the past decade. Starboard is known for detailed operational white papers, board campaigns, and efforts to improve margins and capital allocation at portfolio companies. Smith’s firm is a regular presence in corporate governance and activist-investing news.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$127M |
| 2 |
Fortrea Holdings
FTRE
|
+$83.7M |
| 3 |
News Corp Class A
NWSA
|
+$32.1M |
| 4 |
Alight
ALIT
|
+$29.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GoDaddy
GDDY
|
+$239M |
| 2 |
Humana
HUM
|
+$158M |
| 3 |
WIX.com
WIX
|
+$79.7M |
| 4 |
iShares Russell 2000 Value ETF
IWN
|
+$65M |
| 5 |
Gen Digital
GEN
|
+$25M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 51.92% |
| 2 | Communication Services | 10.39% |
| 3 | Industrials | 10.3% |
| 4 | Healthcare | 8.76% |
| 5 | Utilities | 8.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
GoDaddy
GDDY
$12.3B
| $644M | 15% |
4,612,369
-1,809,093
| -28% | -$239M |
|
|
2
Gen Digital
GEN
$17.3B
| $438M | 10.19% |
17,516,604
-1,092,300
| -6% | -$25M |
|
|
3
Salesforce
CRM
$171B
| $432M | 10.07% |
1,681,870
+473,395
| +39% | +$127M |
|
4
Algonquin Power & Utilities
AQN
$4.39B
| $364M | 8.48% |
62,141,000
| – | – |
|
|
5
Alight
ALIT
$379M
| $320M | 7.46% |
2,169,750
+179,400
| +9% | +$29.9M |
|
6
Acacia Research
ACTG
$440M
| $306M | 7.13% |
61,123,595
| – | – |
|
|
7
WIX.com
WIX
$3.43B
| $299M | 6.95% |
1,877,000
-555,000
| -23% | -$79.7M |
|
8
News Corp Class B
NWS
$18.7B
| $248M | 5.77% |
8,732,000
| – | – |
|
|
9
News Corp Class A
NWSA
$16.4B
| $199M | 4.62% |
7,201,393
+1,244,393
| +21% | +$32.1M |
|
|
10
iShares Russell 2000 Value ETF
IWN
$14.6B
| $195M | 4.54% |
1,280,000
-425,000
| -25% | -$65M |
|
|
11
Humana
HUM
$45.5B
| $189M | 4.41% |
507,000
-469,000
| -48% | -$158M |
|
|
12
Fortrea Holdings
FTRE
$1.75B
| $187M | 4.35% |
8,000,000
+2,698,000
| +51% | +$83.7M |
|
13
Bloomin' Brands
BLMN
$996M
| $162M | 3.78% |
8,441,000
| – | – |
|
14
Rogers Corp
ROG
$2.26B
| $97M | 2.26% |
804,000
| – | – |
|
15
Mercury Systems
MRCY
$5.49B
| $61.9M | 1.44% |
2,294,000
-370,000
| -14% | -$10.8M |
|
16
Aecom
ACM
$8.34B
| $55.1M | 1.28% |
625,438
-233,562
| -27% | -$21.3M |
|
17
Green Dot
GDOT
$766M
| $47.4M | 1.1% |
5,018,381
| – | – |
|
18
iShares Russell Mid-Cap ETF
IWR
$57.7B
| $24.3M | 0.57% |
300,000
-225,000
| -43% | -$18.3M |
|
19
RB Global
RBA
$16.1B
| $19.2M | 0.45% |
251,163
| – | – |
|
|
20
PUT
Humana
HUM
$45.5B
| – | – |
-170,000
| Closed | -$1.33M |
|
Similar funds
Jeffrey Smith's Q2 2024 Portfolio in Review
As of Q2 2024, Jeffrey Smith held 21 positions worth $4.3B, down 11% from $4.84B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Jeffrey Smith withdrew a net $353M in Q2 2024, closing 1 position and reducing 8 holdings. Its largest reduction was GoDaddy, cutting an estimated $239M.
By sector, the portfolio is most concentrated in Technology at 52% of assets, up from 49% a quarter earlier, followed by Communication Services and Industrials.
Against the trend, Jeffrey Smith added an estimated $127M to Salesforce.
- Jeffrey Smith added most to Salesforce in Q2 2024, an estimated $127M increase.
- Jeffrey Smith's biggest Q2 2024 reduction was GoDaddy, cutting an estimated $239M.
- Jeffrey Smith's ten largest holdings make up 80% of its $4.3B portfolio in Q2 2024.
- Jeffrey Smith opened 0 new positions and closed 1 in Q2 2024.
- Jeffrey Smith's portfolio value fell 11% quarter-over-quarter to $4.3B.
Based on Starboard Value's 13F filing for Q2 2024, filed 14 Aug 2024.